403(b) Plan Changes and Annual Notices

Attention
All DePaul University Full-Time and Part-Time Faculty and Staff employees:

Please
see below information on important annual notices for eligible employees and
participants in the DePaul University 403(b) Retirement Plan (the “Plan”).
Also below are details related to upcoming changes to your investment fund
lineup and a new Automatic Increase Program to increase plan participants’
savings rates automatically each year, and discontinuation of the 15 Year
Service Rule Catch-up provision. Please read this information carefully.

403(b) Plan Fund Changes

Recently,
DePaul University completed an analysis of the current investment line-up
within the Plan. Based on this review, effective December 19, 2018, DePaul is
electing to make the following changes to those options in an effort to
maintain the best possible employee retirement benefit program:

Replace the Vanguard Total International Stock Index
Fund Admiral Shares with a new share class, the Vanguard Total
International Stock Index Fund Institutional Shares

For
more details on these changes, additional information about the funds listed
above, and instructions for any actions you may want to take prior to the
fund changes taking effect, please review the full notice:

New!
Beginning January 1, 2019, active Plan participants will be enrolled in the
DePaul University 403(b) Plan’s Annual Increase Program — a convenient way to
boost workplace savings contributions on a regular basis to keep on track to
meet your retirement goals. Each year, Plan participants contributing less
than 10% will see their contribution rate increase by 1% until they reach the
10% employee contribution threshold, unless they elect otherwise. If you
would prefer to elect an annual increase percentage different from the
designated 1%, or if you elect not to participate in the Annual Increase
Program, please contact Fidelity at 800-343-0860 or log on to www.netbenefits.com/depaul
and indicate your preferences before January 1 of each Plan year. Notices and
confirmations will be issued to impacted participants directly from Fidelity.
For more details, click here
or visit go.depaul.edu/403b.

Change to Annual Limits and 15 Year Service Rule Catch-up

403(b)
contribution limits have increased from 2018. The limits for 2019 are:

Effective
January 1, 2019, the 15-Year Service Rule Catch-Up will no longer be a
provision included in the Plan, due to lack of utilization. The Age 50
Catch-Up Contribution generally is available to participants who are age 50
by the end of the calendar year. Please be aware that, if the contribution
rate that you elected exceeds the General 403(b) Contribution Limit of
$19,000, and you qualify to make Catch-Up Contributions, the Catch-Up
Contributions will automatically be taken from your pay, and Catch-Up
Contributions will be made on your behalf unless you opt out of the Catch-Up
election through NetBenefits® at www.netbenefits.com/depaul.
You must meet the General 403(b) Contribution Limit of $19,000 prior to
making any Catch-Up Contributions.

Annual Fee Disclosures

The
Department of Labor (DOL) requires annual notices to be provided to all
eligible employees and Plan participants regarding fees and expenses in the
Plan. These notices are intended to enable participants to better understand
their current investment costs and provide an opportunity to review the
merits of each of our Plan vendors, Fidelity Investments and TIAA.

Please
note, TIAA will be reducing their recordkeeping fee requirement from 10 basis
points to 8 basis points annually, effective December 20, 2018. Fidelity’s
recordkeeping fee remains at a flat $72 annually (billed quarterly at a rate
of $18). Click here for more
information on the fee structure implemented in 2017 for the Plan.

Universal Availability Notice

The
Plan offers an attractive way to save on a pre-tax basis for your retirement
and future financial goals. Full-Time and Part-Time Faculty, Staff, and Union
Employees* are eligible to participate in the Plan. An eligible employee may
enroll in the Plan, or change his or her contribution election at any time by
logging on to NetBenefits® at www.netbenefits.com/depaul
or by calling a Fidelity Retirement Representative at 1-800-343-0860. If you
are Faculty or Staff and contribute at least 5% of your pay to the Plan, you
will receive the University's Matching Contribution of 9.5% of pay
(increasing to 10% effective January 1, 2019) once you complete one year of
service (or equivalent, as defined in the Plan document) and attain age 21.
Union employees are not eligible for the University’s Matching Contributions.

Complete
details about the Plan are available on the 403(b) page of the Human
Resources (HR) website, go.depaul.edu/403b,
along with resources to assist you in making your contribution decisions: